Seeking to promote itself as best investment destination, Punjab is all set to host the two-day long ‘Progressive Punjab Investors Summit’ starting here on Wednesday amid elaborate security arrangements.
“All the arrangements have been made for the investors summit which will commence tomorrow,” Punjab Industry Minister Madan Mohan Mittal said on Tuesday.
Focusing on attracting investments in manufacturing, IT, agro-processing, healthcare and bio-sciences, the state government is offering a slew of incentives including cheap power to new investors at Rs 4.90 per unit for five years, VAT retention, exemption from stamp duty, electricity duty as per 2013 industrial policy, to attract fresh investments in second edition of summit. “The focus area will be to attract investment in various verticals including IT, food processing, plywood etc. Our intention is to promote industrial segment which creates employment generation,” the minister said.
Among major initiatives taken by the state government to promote industrial investments in the state was single window clearance for all permissions, pre-cleared industrial sites to enable investors to set up projects at once, surplus power, international airport at Mohali and better road connectivity, officials said. - PTI
